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20120925
20121003
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CNBC 14
FBC 12
WHUT (Howard University Television) 8
CNN 4
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English 71
Search Results 0 to 49 of about 73 (some duplicates have been removed)
CNBC
Sep 28, 2012 4:00am EDT
. that's the plan to reach the deficit target. that's the best case scenario because the budget is based on a growth assumption of 0.8% which seems to be far too optimistic. plenty of private economists believe the french economy won't grow more than 0.3% next year. in that case, the government will need to find an additional 5 feweuro of spending cuts on t of what will be announced today. the budget will include one very symbolic measure, new tax rate of 75% for people earning more than 1 million euros per year. it will be implemented only on around 2,000 people and it will raise only 200 million euros. so that's a symbolic measure that the prime minister has been clear already saying that it was a patriotic contribution to help the country recovery. also the government will confirm today probably that the bracket for the income tax in france won't be adjusted anymore to the inflation. that seems to be technical, but it means that with the same salary next year, people here will pay much more taxes than they used to pay. so basically, yes, it's focused on a tax increase. it's really imp
KCSMMHZ
Sep 28, 2012 2:30pm PDT
on businesses and the country's wealthy as it seeks to cut the nation's budget deficit. >> in formula one, team mercedes is not going to renew michael schumacher's contract after the season is over. german chancellor angela merkel will have a formidable challenger when she seeks reelection next year. it has been announced that former finance minister peer steinbruck will be running to oppose her. >> is a sharp-witted and sharp- tongued opponent. his candidacy was announced earlier today in berlin. >> he is the spd star right now after the two other contenders made way for him. the parliamentary leader refused to run a second time, and party leader did not think he would attract enough votes, so steinbruck is said to compete against his onetime ally angela merkel for the chancellorship. >> i accept the challenge to take the spd to victory in the next election. that is our goal. we want to oust this government. >> steinbruck says he wants to head a social democrat green coalition. he has a degree in economics and is known for pragmatism and expertise in fiscal policy. he is regarded as a centrist
PBS
Sep 28, 2012 6:30pm PDT
. >> they came to narrow the deficit next year to 3% of national output -- date came to narrow the deficit next year. >> among the measures -- a temporary 75% income tax on earnings over 1 million euros. business also faces cuts in tax breaks. the prime minister presented the 2013 budget. >> this is a budget for social justice. and it is a budget for growth. it prepares us for the future. it is a courageous and responsible budget. >> the package includes public spending cuts of 10 billion euros. france's economy is in a precarious position. second quarter gdp was stagnant, and unemployment has just talked 3 million -- topped 3 million. the government is aiming to make good on election promises while making sure austerity does not hit france into recession -- tip france into recession. >> spanish banks will need 59 billion euros to get back on their feet according to a new report commissioned by the spanish government. >> that will help take pressure off the prime minister, who is seeking to avoid a bailout. spain says they will ask for around 40 billion euros of the total sum, while the rest ma
WHUT
Sep 29, 2012 7:00pm EDT
. >> we were expecting to have a deficit that was going to be about 7% of the economy and it turned out to be 9%. we did not have the time to react. so weak in our political manifesto, the main aim was that we were going to give spain what it needed. there were not actual promises but as a general promised to try to manage the situation. the figures were worse but we were struggling. >> what would the opposition socialist to differently? spain has one of the biggest property bubbles followed by the collapse. >> we want comprehensive reform of the fiscal system. it has to be more progressive. we know in spain that corporations only pay 11% from their benefits. at the same time, there is a large number of citizens who do not pay taxes to income tax. they are liberal professions like people who put all their revenues inside society. we believe there has to be changes and we have to have a more comprehensive system that is able to control everybody. >> won the budget was announced, it was predictable. this economy has already seen 65 billion euros out of it this year. today was confirmed a
PBS
Sep 26, 2012 11:00pm PDT
of savings, being moderate in consumption, for a government is not to run a deficit. for a country, virtue is to have your balance of payments, if any not in deficit. now, the anglo-saxons are more accustomed to think in systemic terms what happens if each country is as virtuous as germany is? what happens to global demand then and so on and so forth? aren't these cultural aspect glz they are, indeed. >> but they determine everyday policy, if not politics. >> rose: when you look at th the-- has dealing with this crisis and having it on the front burner perhaps not ledo, you know, the end of the euro zone, as some people feared, certainly the membership in part of the euro zone, but may very well have given some momentum to monetary and fiscal and even political union? >> definitely. definitely. the man who found-- founded the concept of the european union in the late 40s and 50s, john monet. >> rose: a frchma >> said that the integration of europe will grow through crisis. and he was very right. also in that respect. because you see, when we have a serious crisis like undoubtedly the euro
CNBC
Sep 27, 2012 4:00am EDT
. the 2012 budget had 64 billion euros worth of austerity built into it. that was designed to get the deficit levels right back to those iconic levels, but they missed on their deficit star get last year and they'll miss on this year. they're hanging on to #.5% bond you this believes if not reable because austerity on top of a recessionary environment is a toxic mix. >> the ecb saying spanish bank deposits down 1.1% on the month in august, which means they're now the lowest level since april 2008. and we've got a prime minister there who has effectively said to the markets come out and short me because we're not going to go for a bailout unless webo costs go higher. and he's trying to delay aid until after the catalonia elections. and that seems like a pretty thin tight rope to walk. loan i. >> and we'll get the report on just how much money the banks need. it is suspected it will be in the 60 billion plus. but the elections on october 21st, that's rajoy's own province. and then you have the cat lo loaniloa loanian region think they're the richest region giving too much to the others. the res
CNBC
Oct 1, 2012 4:00am EDT
have started looking over. we got current account deficit and that taps at 3.9%. was at about 4.5%. in the quarter gone by, there was a surplus of close to about $5 billion. and we just got the august trade data out, as well. imported out about 5.1%. and august trade data is more or less in line. on that note, it's back to you again. >> all right. thanks for that. gold a bit of a boost in the run up to qe being launched since -- >> yeah, consolidating. i guess we've seen a pretty positive correlation between qe and pursuing months. so i think we'll see it push higher. as we see the race to the base, it can only be good for the gold price and obviously an even more interesting place, the gold miners. >> i just want to point out this tie isn't because i'm long gold. it's actually because i'm supposed to be matching, see that, this is the -- >> you need to be in a blue tie. >> there's some yellow in there, fwr greg. should have worn a yellow shirt. >> next time. >> not that you should take any fashion advice for me. so what about the reaction to that chinese data? li has the detail
CNBC
Oct 2, 2012 4:00am EDT
will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that's what we've been picking up, that in the background of all these guys working on the deal already. soon after the election, our best guess is that there will be one. not too different from that story actually. >> qe-3 meanwhile, how does that play? does that continue to support lift asset prices? how do commodities get in the wash between slowing chinese growth and fed action? >> that's a good question. because i think it's a big one. i think we're not three weeks into qe-3 yet and the populous mind set of the markets is that we're done qe-3, let's move on to whatever's next. qe-3 is in my opinion very different fr
CSPAN
Sep 24, 2012 8:30pm EDT
raised levels of almost 4% of gdp in 2010 and we see that today deficit is tomorrows taxes and the market always punishes the lack of fiscal irresponsibility. that is why expanding the public debt is to stimulate the economy and we understood that. once you do if you have to take measures to rebuild your finances. the big mistake made by the many economy starting the crisis was to forget that we can use the public deficits like this. but if you try to use it on a regular basis, you will face sooner or later problems in the deficit and that is exactly what is happening with several economies in europe right now. that is why we've put in place an exit strategy to regain the fiscal balance including several painful measures. for instance increasing the tax revenues come producing the public expenditures, promoting the reforms and the deregulation program. we also sit down with a very inefficient energy company which saves the government more than $5 billion a year in subsidies. thanks to the fiscal discipline, the public debt is a historical low level. more than twice the amount of the total
CNBC
Sep 28, 2012 4:00pm EDT
, then there's no way we're going to deal with a $16 trillion debt and $1 trillion a year deficit. >> medicare, medicaid, social security. fe forget about that. >> this is a no-brainer. first of all, look on your cell phone bill with the tliline tha says universal service fund or fee. you're paying for this. you need to call your member of congress, your senators, call anybody you can and tell them to get on board with killing this program. i have been shocked at how hard it's been to convince people. a lot of that's because people don't know. but you're helping educate them. >> on the cell phone, it says universal fee, universal services fee. that's the cost that taxpayers are paying so that low-income folks can get these phones. that's what we should be looking for. just to be clear, they're not just getting a free phone, but free service. >> it's the service. what happens is the government pays the service and the phones are often given by the provider. that's right. >> all right, congressman. great to have you on the program. we'll be watching this developing story. really an extraordinary
CNBC
Sep 25, 2012 4:00am EDT
bonds because they now have a pension deficit. that's nonsense, of course. what's happening on the corporate side? they're awash with capital. are we also getting less issuance and how much more money do corporates need to have? >> what's interesting is the eurozone credit market is shrinking year on year which is the first time it's done that for a long time. there's not only less issuance, there's less coming out to meet, retiring effectively. corporates as kelly said earlier, the economic outlook is not rosy. the motivation to carry out m&a activities is relatively low. so i expect the trend to continue. >> and the quality they're issuing isn't all that great either. >> the good quality have all the cash they need. so, you know, they don't need any who are. >> most of them have the cash. i think the good quality borrowers can borrow really easier. there's huge 2k3457demand for h the spreads are tight. >> angela merkel and mario draghi are both delivering speeches in berlin today. organized by the bdi which represents large and small enterprises, the day of industry is int
FOX Business
Sep 26, 2012 1:00pm EDT
democrat bonn the president's deficit reduction committee with alan simpson and pretty good and we should point out he is there too but the president ignored a lot of his -- [talking over each other] >> he is seen as a guy who can bring democrats and republicans like him. the other guy out there whose name is bounced around and bounced around for four years is the ceo of black rock. i consider him a friend. the upside to larry is clearly there is no smarter guy on wall street that i know. he saw between trading and an entrepreneur. and associated -- the obama administration -- there's a european financial crisis, he understands financial instruments, and erskine bowles is a different dynamic. really going to do that. you want to make a deal with republicans and he is the guy to do it but larry as different depending on how you approach it. the wall street firms are going around. with larry taking the job, and natural successor at black rock. i just -- maybe he does. melissa: such a massive pay cut. [talking over each other] charlie: erskine bowles is no stranger to wall street. melissa: t
PBS
Sep 28, 2012 4:00pm PDT
in the finances and reduce the deficit. the richest households and the biggest companies would bear most of the pain. >> this is a fighting budget to restore the country to health. this is fighting a debt. >> the budget will lead to savings of 30 billion euros next year. that is less than 2% of the economic output. public spending will be frozen. care will be higher taxes on those earning over $1 million. they will be taxed at 75%. he is a new media person and a millionaire and he believes the higher taxes will send a message that france is not open for business. >> the risk is not only that talent will leave the country but the young ones with talent will leave the country. >> this week has seen the paris motor show. hard selling in tough times. the french economy is stagnating and workers are being laid off. eight thousands at peugeot alone. some argue that if france is to grow again, it needs radical reform. >> in france, we must do everything for the future to have our industry competitive. beyond retreat -- restructuring, we have one of the highest. >> many of these workers face red
WHUT
Sep 26, 2012 7:00am EDT
's pleading for two more years in which to cut the greek deficit. european leaders say it will really depend on whether greece quickens the pace of reform. we will know more within a matter of weeks when the greek international lenders publish their support, their assessment on how greece is doing. if it is a largely positive assessment, maybe he might get a little breathing room. maybe he might persuade angela merkel of germany and france want hollande -- francois hollande of france to give him some breathing room. greece could face immense political instability to add to its financial woes. >> thank you very much. austerity strikes under way in greece. the streets of the spanish capital madrid are calm after a night of violent protests. riot police fired rubber bullets at demonstrators who tried to march on the parliament building, angry at their governments' efforts in spending cuts. now this report from madrid. >> many in the crowd were young. this protest was organized by social media. -- via social media. it was more expensive than other recent demonstrations -- more tense. thousands g
WHUT
Sep 28, 2012 7:00am EDT
them to be able to reduce the deficit level down to 3% of g.d.p. from 4.5% which is where it is at the moment. the feeling at the moment is it probably won't. let's shift attention over to spain where we had the budget yesterday. generally speaking people were very favorable about the budget, but -- us asterity measures were those ones this would be conditions for a bailout. so a bailout was coming along and so therefore that's what happening. however, the next thing in line, probably after the market's closed, got to be the stress test on the banks. nobody really knows how deeply in debt banks are. how much bad debt they've got out there. could be anything, 150 billion euros there talking about an enormous. >> talking to banks, i'm thinking of the trouble that banks are getting themselves into over this liable scandal. >> yes. will, libel, of course the race at which the banks lend to each other, and it was established by the british banks and them saying this is what we're lending out. they roughly average it together, come out with the libel rates. they're now changing
CNN
Sep 26, 2012 12:00am PDT
be a substantial deficit but it will be much smaller. president obama's main contribution to this $16 billion debt which is -- a $1 trillion debt which is a ten-year figure, projecting out ten years, was the stimulus bill which was $800 billion, which i believe was a good thing to do. i think that that might even be even bigger without it, because it kept people working and paying taxes and off the government payrolls and because it created new jobs and infrastructure in energy. if you look at his annual spending budgets, they are about 2% increases. that's less than the rate of inflation. so i think that the reason that i believe he will win re-election is that we're beginning to recover. we've had a higher rate of job creation since the recession bottomed out, the collapse bottomed out in the middle of 2009, than in the previous eight years, and we are moving in the right direction, and the policies he has advocated are more likely to present a good economic result. that's why if people thought this was just like another recession, he would be in real trouble but it isn't like another recession.
FOX Business
Sep 28, 2012 5:00pm EDT
close the deficit next year. if you look at example. this was tried in oregon in 2010. it didn't bring the revenue they thought. tried the same experiment in illinois. didn't bring in the revenue they thought. do you think down the line though, somebody will have a scorecard and say this is what you thought it would bring in but it didn't happen? >> well they will have to, melissa. so initially, you're absolutely right. initially when you raise taxes, remember we're halfway through a tax year. so you can't, you can't move today and not claim you earned that money in france. so people will have to pay higher taxes this year. so they might have a little bit better of a budget over the next 12, maybe, 18 months. but after this, things start to fall apart. but more importantly, businesses are going to see growth slow down and they're going to have to lay off workers. this is where the polls and the politics starts to work against the president. melissa: i worry this is where it comes home to the u.s. because immediately today all across the news when people were reporting this story i say
CNBC
Sep 28, 2012 6:00am EDT
of spending cuts or deshl resources to meet its 2013 deficit target. and fitch is lowering its 2012 growth forecasts both for china and india. citing deteriorating outlook of the global economy. so not a great way to start the morning. >> no, not great, but i like seeing what we did -- i saw ge and i was going to tell whoever thinks that we need to kiss up to them still -- >> minority partner. >> they are. but comcast would have been a better -- or we could have done both. and did i see something that it had first quarter, second quarter, third quarter? what do i need in the fourth quarter to get to the 30%? do we hahave that anymore? is that gone? no, they don't have it. >> i saw the dow, s&p and nasdaq. >> what did it add up to? adds up to like 15 or so. >> i just saw for this quarter. >> oh, it didn't show first quarter, second quarter -- >> no. >> there are corporate headlines. people started getting plaq blackberries? >> they beat expectations. >> they lost money, they beat expectations. >> but they added subscribers. >> subscribers in developed countries. the point is a developing --
FOX News
Sep 28, 2012 9:00am EDT
is telling france hey, you got to get that budget deficit under control, big budget deficit is verboten the socialist president of france, francois hollande, tax the rich, not so rich, capital gains, profits, you name it, there will be a big new tax. on upper end of income every dollar over a certain level the french government will take 75 cents. rip it right out of your hand. 75 cents on the dollar. more than $200,000, they take 45 cents on the dollar, almost half. bill, this is a massive gamble because france's economy is dead flat, teetering on recession. 10-year high for unemployment and france puts in place huge tax increases. bill: i'm reading the two measures bringing around half a billion euros. >> that's it. >> what will that do for them? >> not much. there are other taxes as well which will bring in a total they think of 20 billion euros. bill: higher tax rates on dividends? >> dividends, capital gains, dividends, profits, reinvestment of capital, interest you name it. bill: here is a query for you. are they cutting spending at all? >> by about $10 billion euros. $20 billion
FOX News
Sep 29, 2012 3:00am PDT
's deficit. let's go to clayton. >> big story making headlines this morning. several days after the attack on the u.s. consulate. this is the story that the obama administration was sticking to. listen. >> this was not a preplanned premeditated attack that what happened initially was it was a spontaneous reaction to what had just transpired in cairo as a consequence of the video. >> our current assessment is that what happened in benghazi was, in fact, initially a spontaneous reaction. >> what our assessment is as of the president is in fact what it began spontaneously in benghazi as a reaction to what had transpired some hours earlier in cairo. >> but as fox news reports, the administration knew within the first 24 hours that it was a terrorist attack. so why were americans left in the dark and how could potential coverup impact the election? here for fair and balanced debate is fox news contributor angela mcglowan and mclavigne. this seems like a big problem for the president. >> i don't see it that way. look, the president came out the morning after the attacks on september 12th. came o
CNBC
Sep 28, 2012 7:00pm EDT
teachers and expand student aid and beef up public unions, sure. cut the deficit and raise the tax rates on upper incomes of successful businesses, guess what it has not worked so far. if it was going to work, it would have already worked. so is this really obama's version of economic patriotism? let's talk. here's jimmy william and cnbc contributor of the american enterprise institute. what is so bloody patriotic about tax hikes, spending increases, regulatory increases and a lousy, worst economy since 1947? >> i'm worried what we will see in 2013 if the president wins is an economic patriot act. and part of it will be dramatically higher taxes on wealthier americans, entrepreneurs. anyone who thinks the end of the obama tax hikes are going to be raising it back to the clinton levels are crazy. you are going to see surtaxes, surtaxes on corporations. there's no way the obama spending numbers work without dramatically higher taxes far above what we saw in the clinton years. >> one of these things has my goat. obama talks about cutting tuition, you can't cut tuition if you expand student
CNBC
Sep 26, 2012 6:00am EDT
their deficit taxes, so now they have less tax revenues, so now they have to do it all over again. what i think is funny is that rajoy has said out loud i'm only going to look for a bailout if our interest rates go up. >> and interest rates have not gone up. >> draghi does him a big favor. so he says well, i'm going to wait and see until if i really need it. when you're running the country, you're not going to ask for a bailout until you start to be choked again by the bond market. >> 6%, is that the number? is it 7%? >> i've been told 8% for spain. and these countries really can hold out for a long time. they just have to make very, very hard choices. if they seek a program which is esfs and draghi step in to start buying their debt thark can go on far very, very, very long time. greece is going along just doing tea bills every two weeks. >> what's strange is how europe goes away and the markets here forget about it for weeks at a time and then all of a sudden it's back on the play. >> i think that -- the reason it went away is draghi took cataclysmic events off the table. so they're not going
CNBC
Oct 1, 2012 6:00am EDT
. >> $80 billion? >> it's like 80 build per year. and we need to cut -- close the deficit by a trillion. we got a trillion dollar deficit and it raises like -- i think it's less. maybe 40 billion. >> are you correct, it's not sufficient. >> and he's not talking about anything else. you can keep your entitlement, keep this -- he's not talking about doing specific things with entitlements. >> you're right to this extent. he's not talking specifics on entitlements. >> it's mostly we'll tax rich people so that -- or people that make over 250 and you'll basically get to keep everything including the phones. >> joe, i thought you either wanted to talk about the last minute kick that a billy -- >> i didn't see that. oh, the redskins. >> or my terrific story on debates in the "new york times" this morning. >> it was between piece. it was a very good piece. >> i did see that. >> thank you. let me recap. >> you didn't even mention the bengals beat the redskins. >> i was going to if you brought it up. and congratses on the reds, too. they have tied the nationals for best record in baseball. so we've g
FOX Business
Sep 28, 2012 6:00pm EDT
. it is that number that worries moody's. school system is already facing a billion dollar deficit in 2014. well, still to come, romney's people trying to lower expectations for next week's debate. his steaks. and the film that sparked violence and average around the world. the anti is law movie is banned in other countries. what about your? answers next. lori: freedom of speech under fire. one man's video, world leaders up in arms against their basic rights. stay with us. we'll be right back. lori: outrage across the world with his entire islam you to video under arrest. could face up to three years behind bars for allegedly violating his parole and lying about his involvement in the film. this as global leaders feared nuys the very notion of free speech. joining me now. great to see you. first, the filmmaker. and so let you know how to pronounce his name. >> that's why he was arrested. people have said, how can he be arrested on a probation violation? because we don't know who he is. you will even give us his real name. lori: an information gathering exercise and the part of the stories. >> mo
Search Results 0 to 49 of about 73 (some duplicates have been removed)